June 6, 2018 / 1:39 PM / 5 months ago

U.S. renewable fuel credits surge on White House retreat - traders

NEW YORK (Reuters) - U.S. renewable fuel credits traded as high as 29 cents on Wednesday morning, up from 20 cents on Tuesday, on reports that President Donald Trump has likely abandoned efforts at biofuels reform, traders said.

The Trump administration has indefinitely delayed a proposed overhaul of U.S. biofuels policy aimed at reducing costs for the oil industry, under pressure from corn state lawmakers who worry the move would undermine demand for ethanol, sources told Reuters.

Reporting By Jarrett Renshaw

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